Altamira Gold Completes First Deep Drill Hole at Maria Bonita and Extends Size of Alteration Zone at Tavares Norte Target, Cajueiro District Brazil

Altamira Gold Corp. (TSXV: ALTA,OTC:EQTRF) (FSE: T6UP) (OTCQB: EQTRF), ("Altamira" or the "Company") is pleased to announce the completion of its first deep drill hole at the Maria Bonita target and to provide an update on ongoing exploration activities across the Cajueiro District area, Mato Grosso, Brazil.

Highlights:

• Drill hole MBA032, located 100 meters south of hole MBA029, which previously reported 213m @ 0.8g/t gold from surface including 146m @ 1g/t gold, intersected over 500 meters of brecciated and highly altered porphyritic intrusive rocks from 34.3m to 534.7m depth, with quartz veinlet densities averaging roughly 4 per meter (see Figures 3 and 4). Results are pending.

• Surface mapping and sampling at the Tavares Norte target, located 4km east of Maria Bonita and 1.5km north-west of the Cajueiro Central resource, suggests that the sericite alteration zone extends 1.5km further east than previously known and is connected to the Morro Verde target, located 1.5km east of Tavares Norte (see Figure 5).

• Of 94 surface grab samples⁺ collected at Tavares Norte, 20 returned gold values above 0.1 g/t Au, with a maximum of 27.5 g/t Au. This sample also returned an assay value of 929 ppm Cu (see Figure 6). Several samples are also anomalous in molybdenum with values ranging from 10 to 356 ppm Mo.

• At Morro Verde, 62 surface grab samples⁺ were collected, 13 returned gold values above 0.1 g/t Au, with a maximum value of 5.2 g/t Au (see Figure 7). This sample also returned assay values of 356 ppm Mo, and 366 ppm Cu.

• A high-resolution drone magnetic survey is underway, covering a total planned area of 56 km² with 545 km of north-south survey lines. To date, 43 km², or 75% of the planned area, has been completed. This survey is providing detailed magnetic mapping to support target definition and geological interpretation.

CEO Mike Bennett commented; "The first deep hole at Maria Bonita intersected over 500m of highly altered porphyritic rocks and suggests that the intrusive system there could be significantly larger than currently envisaged. Additional holes will be completed at Maria Bonita once we have received the results from this first deep hole. In addition, the surface mapping and sample results from the untested Tavares Norte target, located 1.5km east of Maria Bonia are highly encouraging and suggest the possible presence of another porphyry system. Initial drill testing of this target is being planned as part of the current program."

⁺ By their nature, grab samples are not representative of the bulk metal content of a mineralized zone.

CAJUEIRO PROJECT

The Cajueiro project is located approximately 75km NW of the town of Alta Floresta in the state of Mato Grosso (Figure 1) in central western Brazil. The project is easily accessible by road, lies on open farmland and has grid power and a local water supply. Cajueiro is the most advanced of three key projects that Altamira controls in the region, the other two being Apiacas and Santa Helena (Figure1).

Figure 1: Location of the Cajueiro, Apiacas and Santa Helena projects.

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The Cajueiro district consists of two independently estimated gold mineral resources at Cajueiro Central and Maria Bonita, plus a series of eight additional untested exploration targets within a radius of 8km of Cajueiro Central.

The Cajueiro Central area has a current open pit resource¹ of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold for a total of 515,000 oz in the Inferred Resource category (estimated using a cut-off grade of 0.25g/t Au and a gold price of US$1,500/oz).

The Maria Bonita open-pit resource consists of Indicated Resources of 24.19Mt @ 0.46g/t gold (for a total of 357,800oz) and Inferred Resources of 25.64Mt @ 0.44g/t gold (for a total of 362,400oz)². These resources were calculated using a 0.2 g/t gold cut-off grade and a gold price of US$2,780/oz. These resources include near-surface saprolite Indicated Resources of 2.02Mt @ 0.59g/t gold (38,000oz) and Inferred Resources of 0.68Mt @ 0.40g/t gold (8,700oz).

The mineralized zone at Maria Bonita is interpreted as dipping to the south and is open down dip. The best drillhole to date (MBA029) intersected 213m @ 0.8g/t gold from surface including 146 m@1g/t gold. This third phase drill program is aimed at testing the area to the south and down-dip from the current resource model.

The Maria Bonita porphyry gold deposit is interpreted as part of a district-scale, porphyry-related mineralizing event. There are currently eight additional porphyry gold targets awaiting scout drill testing over an 8km radius from the Cajueiro Central resource (Figure 2). Three partially tested drill targets lie outside the current Cajueiro Central mineral resource. Drilling is planned for these targets and will commence as soon as a second rig becomes available.

Figure 2: Cajueiro district targets (yellow labels) and their position in relation to the defined Mineral Resources at Cajueiro Central and Maria Bonita (white labels for sub-sectors). An alignment of six of the targets occur in close spatial association to a pronounced east-west fault corridor marked by later gabbroic dykes.

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Maria Bonita Drilling Update

Drilling recently commenced with hole MBA032, located 100 meters south of hole MBA-029. The objective of this hole was to test the depth extension of the mineralized section seen in hole MBA029 and geological logging of drillhole MBA032 has identified some 500 meters of the quartz porphyry body which displays on average, roughly 4 quartz veinlets per meter (Figures 3 and 4).

All samples from MBA032 have been submitted to the laboratory and assay results are pending.

Figure 3: Typical quartz veining within porphyritic intrusive rocks from Maria Bonita hole MBA-032.

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Figure 4: S-N cross-section through drill holes MBA-013, MBA-029, and MBA-032.

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Tavares Norte Surface Mapping and Sampling

The Tavares Norte prospect is located 1km NW of the Central resource area. The current soil anomaly extends for some 1300 metres x 1800 metres. Previous surface rock chip grab sampling⁺ across the prospect returned an average grade of 3.2g/t gold from ten samples with a highest value of 7.8 g/t gold (see press release dated April 14, 2025).

A total of 94 grab⁺ samples were collected at Tavares Norte during recent geological mapping. Of these, 20 returned values above 0.1 g/t gold, with a maximum of 27.5 g/t gold. This sample also returned an assay value of 929 ppm of Copper. Gold-bearing samples are associated with sericitic to phyllic alteration, as well as magmatic breccias showing potassic alteration. Eleven samples also returned anomalous molybdenum values ranging from 10 to 356 g/t Mo.

Molybdenum is commonly found in the higher temperature parts of porphyry systems.

The Tavares Norte and Morro Verde targets are located approximately 1.5 km apart. Recent mapping indicates that a zone of sericite alteration extends between both targets (Figure 5). All grab samples with assay results reported occur within this sericitic alteration envelope. Sample 128710 from Morro Verde, returned assay values of 5.20 g/t Au, 356 ppm Mo, and 366 ppm Cu (Figure 6).

⁺ By their nature, grab samples are not representative of the bulk metal content of a mineralized zone.

Figure 5: Integrated geological map of the Tavares Norte and Morro Verde Targets with grab sample results.

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Figure 6: Photo of sample 128644 containing 27.5 g/t Au and 929 ppm Cu from Tavares Norte.

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Figure 7: Photo of sample 128710 containing 5.20 g/t Au, 356 ppm Mo, and 366 ppm Cu from Morro Verde.

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Drone Magnetic Survey

As part of the ongoing exploration program within the Cajueiro District, a high-resolution drone magnetic survey is in progress over a total area of 56 km², comprising 545 km of north-south survey lines. To date, 43 km², or 75% of the planned area, has been completed, corresponding to 407 km of survey lines. This survey is intended to provide detailed magnetic mapping to support target definition and geological interpretation.

Qualified Person

Guillermo Hughes, FAIG and M Aus IMM., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

About Altamira Gold Corp.

The Company is focused on the exploration and development of gold and copper projects within western central Brazil, strategically advancing five projects spanning over 100,000 hectares within the prolific Juruena Gold Belt—an area that has historically yielded over 6 million ounces of placer gold**. The Company's advanced Cajueiro project contains two gold deposits. The central area comprises NI 43-101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold for a total of 515,000oz in the Inferred Resource category. In addition, the Maria Bonita gold deposit comprises additional open pit Indicated Resources of 24.19Mt @ 0.46g/t for a total of 357,800oz, and Inferred Resources of 25.64Mt @ 0.44g/t for a total of 362,400oz.

Ongoing exploration and fieldwork at Cajueiro indicate the presence of multiple porphyry gold systems, reinforcing its potential for district-scale development. These hard-rock gold sources align with historical alluvial gold production, highlighting the region's exceptional gold endowment and potential scalability. With two independently established mineral resources, a highly prospective geological setting and a track record of significant discoveries, the Company is well-positioned to unlock further value across its extensive land package.

*¹NI 43-101 Technical Report, Cajueiro Project, Mineral Resource Estimate: Global Resource Engineering, Denver Colorado USA, 10^thOctober 2019; Authors K. Gunesch, PE; H. Samari, QP-MMSA; T. Harvey, QP-MMSA

*²NI43-101 Technical Report, Mineral Resource for the Maria Bonita Prospect: VMG Consultoria, Belo Horizonte, Minas Gerais, Brazil. 12^th June 2025; Author V. Myadzel

** Juliani, C. et al; Gold in Paleoproterozoic (2.1 to 1.77 Ga) Continental Magmatic Arcs at the Tapajós and Juruena Mineral Provinces (Amazonian Craton,Brazil): A New Frontier for the Exploration of Epithermal-Porphyry and Related Deposits. Minerals 2021, 11, 714. https://doi.org/10.3390/min11070714

On Behalf of the Board of Directors,

Altamira Gold Corp.

"Michael Bennett"

Michael Bennett
President & CEO

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The securities described herein have not been registered under the U.S. Securities Act or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements under the U.S. Securities Act and any applicable state securities laws.

Forward-looking Statements

Certain information contained herein constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the extension of the Warrants. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "will", "intends" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including the receipt of all necessary regulatory approvals. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Company will not update any forward-looking statements or forward-looking information that is incorporated by reference herein, except as required by applicable securities laws.

Notes

Gold analysis has been conducted by SGS method FAA505 (fire assay of 50g charge), with higher grade samples checked by FAA525. Analytical quality is monitored by certified references and blanks. Until dispatch, samples are stored under the supervision the Company's exploration office. The samples are couriered to the assay laboratory using a commercial contractor. Pulps are returned to the Company and archived. Drill holes results are quoted as down-hole length weighted intersections.

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